mobile payments News
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It's been identified that a major data breach at mobile payment app Bharat Interface for Money (BHIM) has exposed the personal and financial data of millions of Indians.
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The decline of cash has been predicted by many economists. The question is certainly 'when' rather than 'if'. China is perhaps making the greatest progress. A new initiative aims for rural communities to go cashless by 2020.
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Google has announced that users of its recently launched Google Pay mobile wallet service can now store prepaid transit tickets in the app. The feature is initially compatible with the Las Vegas Monorail network but Google plans to expand it over time.
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Google's announced a revamp of its mobile payment services which unifies its apps under a single roof. It's merging Android Pay and Google Wallet together to create the new Google Pay platform, which includes a redesigned app that's launching today.
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Collaborative partnerships are becoming a "cornerstone" of fintech, Matthias Setzer of PayU told Digital Journal. Financial providers and tech firms are partnering to address trust concerns, avoiding a "culture clash" which could derail the industry.
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UK-based fintech startup Curve has announced its innovative credit card app is now available to consumers. The company has developed a platform that lets you link all your card accounts to its app. You can then use any of them to pay with one card.
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The growing numbers of fintech services offering mobile and cloud-based payments are failing to convert older users. One study from Canada found Generation X-ers are over twice as likely to try a digital payments solution as baby boomers.
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The Mexican Senate has approved a bill to regulate the use of fintech in the country as demand rapidly grows. Mexico is becoming a centre of fintech attention, a trend which the government is concerned could threaten financial stability.
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According to researcher Crone Consulting, Walmart Pay is now close to surpassing Apple Pay. By the end of 2018, Walmart Pay is expected to have more users who make at least two transactions a month than Apple Pay.
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San Francisco -
The mobile payments company Square has introduced a new checkout device that looks like a tablet but runs only Square's checkout software.
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Toronto -
Toronto, Ontario Canada-based DAABA is a digital platform and mobile app available in Canada and the US. that connects people who cannot afford a lawyer with Legal Service Providers (LSP).
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Mountain View -
Google announced that it will be launching a new way to pay for purchases on mobile devices, the "pay with Google" option. You will be able to use any card you have on file.
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Varo Money, Inc., has announced an extension to its digital banking app. The extension is called Varo Forecast. The tool is aimed at helping responsible millennials to manage their money effectively.
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Consumers are increasingly interested in mobile payments technology and are attracted to the idea of a centralised digital wallet. A new study by Accenture found smartphone users are "desperate" for a modern approach to banking that works around them.
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Last year the number of mobile payments processed in China was 50 times greater than the number processed in the U.S. To change this, the company Omnyway wants to disrupt the payments status quo. We spoke with the company's CMO to find out more.
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As previously rumoured, Google has announced a new mobile payments service aimed specifically at Indian consumers. The app is designed to replace cash and includes support for instantaneous transactions. They can be sent using ultrasound signals.
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Google's planning to launch a new mobile payments service in India, according to local reports. The platform could arrive as early as next week and will include more options than Google Wallet and Android Pay, the company's current payment solutions.
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Digital payments are now popular than cash as app-based methods become more widely supported. Every major mobile operating system now comes with a built-in payment provider. Adoption amongst banks and retailers is also on the rise.
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Mobile payment technology steps away from cash or credit card payments, and offers time and cost savings for small businesses. Mobile Payments Today reports that in the U.S. a quarter of the population use mobile payments above nay other payment method.
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Mastercard has announced what it's describing as a "new generation" of credit cards. The company has included biometric technology that adds a fingerprint to the card for additional security. It's used when verifying payments and replaces the PIN code.
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Google has announced a new partnership with PayPal that will see the popular online payments service integrated into Android Pay. Mobile payment users will be able to complete in-store transactions using their PayPal account, adding a new way to pay.
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Mobile payments have been around for some time, but in the United States, they're expected to triple in 2016 to over $27 billion in mobile payment transactions, according to eMarketer.
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Samsung Pay, the South Korean tech giant's mobile payments service, has just reached its one year anniversary. The service has proved to be popular with consumers in the US and Korea and is already very close to passing the 100 million transactions mark.
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Brooklyn -
PayPal is well-known for processing payments — $600 million daily — but it has much loftier goals, according to its president and CEO Dan Schulman: it intends to become a multi-service, global financial behemoth.
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Google has announced a limited trial of a new mobile payments app that lets you pay for something in a store with nothing more than your voice. The system requires your phone to be present but doesn’t force you to pick it up.
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An update to Android Pay today adds support for using the system to buy things from within apps. Google says it is the "next step" in developing Android Pay, now accepted in over 1 million locations across the U.S.
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Omaha -
Square has been doing quite well in the mobile payments business, and the company is on the edge of going public. As is expected, the company is allowing potential investors to examine the risks and uncertainties it has to contend with.
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T-Mobile is hoping you will bank on their latest offering. The fourth largest provider of mobile services in the U.S. is now offering a Visa debit card with banking features.
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This week PayPal's Asia Pacific division took a leap forward in online payment system technology – one that could change the way you pay for nearly everything.
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The poise and promise of mobile payments continue to drive new partnerships across the vast commercial landscape of the United States.
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mobile payments Image
Purchasing goods with a phone with the NFC chip. Courtesy Visa Canada
Google Hands Free lets you pay in stores with your voice, no need to pick up your phone Google
Bitcoin has broken a new record with the price for the digital currency topping $1,000 for the first time. Its value jumped, but it faces an unsteady future With permission by Reuters
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